Candle Company purchased P3,000,000 of bonds at par. The entity has elected the fair value model for this investment. At year-end, the entity received annual interest of P120,000 and the fair value of the bonds was P2,823,000. WHAT IS THE INITIAL MEASUREMENT OF THE BOND INVESTMENT?

Candle Company purchased P3,000,000 of bonds at par. The entity has elected the fair value model for this investment. At year-end, the entity received annual interest of P120,000 and the fair value of the bonds was P2,823,000. WHAT IS THE INITIAL MEASUREMENT OF THE BOND INVESTMENT?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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